• Miba once again grew significantly in the past fiscal year 2023/24 – annual sales increased by 8.1 percent to EUR 1.205 billion compared to the previous year

• Growth driver "Technologies for a cleaner planet": Wind energy business has tripled within two years, similar to that of technologies for battery electric vehicles

• Innovative strength for the products of tomorrow: Miba was once again the patent leader in Upper Austria in 2023 and among the top 3 companies with the most new patent applications in Austria

• 130 million euros invested in the future in the past financial year alone – high equity ratio of 53.8 per cent creates the necessary financial leeway

Laakirchen, April 18/19, 2024. The Upper Austrian technology group Miba is continuing its long-term growth path. In the past ten years, since F. Peter Mitterbauer took over as CEO, its sales have doubled. Over the past 15 years, it has even more than tripled – Miba has grown by an average of around eight percent annually during this period, which is twice as fast as the global economy. In the past fiscal year 2023/24 (1.2.2023-31.1.2024), Miba continued to grow compared to the previous year with a significant increase in revenue of 8.1 percent to EUR 1.205 billion. This was achieved in a difficult environment characterised by a slowdown in economic growth in many core markets over the course of the year and international political crises. Growth came predominantly from the industrial goods sector, where the company generated 60 percent of its revenue. 40 percent came from the automotive business. As at January 31, 2024, Miba employed 7,622 people worldwide, 2,976 or 39 percent of whom worked in Austria.

Technologies for the energy transition and for clean, environmentally friendly drives

"The growth driver is our corporate mission 'Technologies for a cleaner planet'," explains CEO F. Peter Mitterbauer. "Miba technologies help our customers to reduce the carbon footprint of their products. In our customers' applications, they contribute to making the generation, transmission, storage and use of energy even more efficient and therefore more sustainable and environmentally friendly. In this way, we work together with our customers to design their products for markets with enormous growth opportunities."

A few examples show just how successful this is. For example, Miba's sales to customers in the wind energy sector have tripled in the past two years. Miba technology can be used in brakes, gearboxes, rotor main bearings and in the electronics of wind turbines. Miba also produces machines for the construction of the huge offshore wind towers off the coast. "We are utilising the enormous opportunities presented by the transition to renewable energy," explains Miba CEO Mitterbauer. The company is also highly successful with technologies for hydropower: Miba is one of the world's three largest suppliers of hydro bearings, which are used in hydropower plants.

Sales of technologies for battery electric vehicles have also tripled within two years. High-tech resistors for electric vehicles and battery technologies are the main drivers of this growth. In recent years, there has also been a strong increase in sales of products for efficient and environmentally friendly drives for ships and railways.

48 new patents in the past year, including 21 for eMobility

Miba's enormous innovative strength creates the basis for reducing CO₂ and developing sustainable products together with its customers. As the latest figures from the Austrian Patent Office show, Miba Group companies registered 48 new patents and utility models in the previous year alone, 21 of which were for eMobility. This makes Miba the patent leader in Upper Austria for the third time in a row, as well as one of the top 3 companies with the most patent applications in Austria. The company holds a total of 422 patents, with 300 employees working in research and development.

Almost three million euros invested in education and training in the past fiscal year alone

To continue its growth with technologies for the energy transition and for sustainable drive systems, Miba invested 130 million euros in the past fiscal year: 84 million euros in the production sites, 43 million euros in research and development and almost three million euros in the training and development of its employees. "We will continue this investment programme in a similar form in the current fiscal year," says F. Peter Mitterbauer. Major ongoing projects include the major expansion of the production site for resistors in Styria, the construction of new Miba plants in Mexico and China and the establishment of a training and learning centre in Laakirchen. "These enormous investments are possible thanks to our financial independence and stability. Miba's equity ratio reached a high 53.8 percent in the past fiscal year," explains Mitterbauer: "With our financial strength and our investments, we are creating the basis for developing the technologies of tomorrow together with our customers, bringing them to series maturity and subsequently producing them to the highest quality standards. This is how we want to continue to grow successfully."